Medical Investment Property
Office
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30794282 |
| Property Subtypes: |
Business Park, Medical
|
| Status: |
Pending/Contingent |
| Building Size (RSF): |
5,410 SF
|
| Sale Price: |
$1,499,000 |
| Unit Price: |
$277.08 PSF |
| Property Use Type: |
Investment |
| Building Name: |
120 Pine Avenue North |
| Class of Space: |
Class A |
| Usable Size (USF): |
5,410 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
5.6% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
5/9/2022 |
Overview / Comments
|
Fully leased medical investment property. Free standing building 100% leased to BayCare Medical Group, Inc. a wholly owned subsidiary of BayCare Health System. Tenant has been at this location since 2006. They recently upgraded the facility showing a strong commitment to the property. The lease term has approximately 42 months remaining and the tenant has no options to renew providing buyer with strong upside. Rare north Pinellas County medical investment property. Medical is an internet and pandemic resistant tenant. Current below market rental rate provides significant financial upside. Access via full traffic light intersection. Tampa Road carries over 53,000 vehicles per day. High parking ratio of 6/1,000. Extremely tight market with significant barriers to entry for new commercial construction.
|
Additional Details
| Nearest MSA: |
Tampa-St. Petersburg-Clearwater |
| County: |
Pinellas |
| Taxing Authority: |
Pinellas County |
| Tax ID/APN: |
14-28-16-20228-000-1200 |
| Zoning: |
C-2 |
| Property Located Between: |
Tampa Road & Pine Avenue North |
| Property Visibility: |
Good |
| Site Description: |
Located in major office park. |
| Area Description: |
Upscale north Pinellas location with strong demographics |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
5,410 SF |
| Year Built: |
2006 |
| Year Renovated: |
2020 |
| Roof Type: |
Hip |
| Construction/Siding: |
Block |
| Exterior Description: |
Attractive office design |
| Parking Ratio: |
6 (per 1000 SF) |
| Parking Type: |
Surface |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
8,070 |
63,081 |
197,644 |
| Median Age: |
36.74 |
44.65 |
45.79 |
| Households: |
3,030 |
26,993 |
86,950 |
|
© Copyright 2001-2022 Catylist. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Florida Gulfcoast Commercial Association of Realtors nor
Catylist Real Estate Software, Inc. assume any liability for errors or omissions.
|
